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The Norwegian shareholder tax reconsidered

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Author Info

  • Tobias Lindhe

    ()

  • Jan Södersten

    ()

Abstract

In an article in International Tax and Public Finance, Peter Birch Sørensen (2005) gives an in-depth account of the new Norwegian Shareholder Tax, which allows the shareholders a deduction for an imputed risk-free rate of return. Sørensen’s positive evaluation appears as reasonable for a closed economy where the deduction for the imputed return is capitalized into the market prices of corporate shares. We show that in a small open economy where no capitalization occurs, the Norwegian shareholder tax is likely to leave the distortions caused by the corporate income tax unaffected, and to add new distortions to shareholders’ portfolio decisions.

(This abstract was borrowed from another version of this item.)

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File URL: http://hdl.handle.net/10.1007/s10797-011-9195-7
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Bibliographic Info

Article provided by Springer in its journal International Tax and Public Finance.

Volume (Year): 19 (2012)
Issue (Month): 3 (June)
Pages: 424-441

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Handle: RePEc:kap:itaxpf:v:19:y:2012:i:3:p:424-441

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Web page: http://www.springerlink.com/link.asp?id=102915

Related research

Keywords: Tax neutrality; Open economy; Shareholder taxation; Corporate–personal tax integration; Small firms; H24; H25;

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References

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  1. Boadway, Robin & Bruce, Neil, 1992. "Problems with integrating corporate and personal income taxes in an open economy," Journal of Public Economics, Elsevier, vol. 48(1), pages 39-66, June.
  2. Auerbach, Alan J. & Bradford, David F., 2004. "Generalized cash-flow taxation," Journal of Public Economics, Elsevier, vol. 88(5), pages 957-980, April.
  3. Mikael Apel & Jan Södersten, 1999. "Personal Taxation and Investment Incentives in a Small Open Economy," International Tax and Public Finance, Springer, vol. 6(1), pages 79-88, February.
  4. Auerbach, Alan J, 1991. "Retrospective Capital Gains Taxation," American Economic Review, American Economic Association, vol. 81(1), pages 167-78, March.
  5. Stephen Bond & Alexander Klemm & Michael B. Devereux, 2007. "The Effects of Dividend Taxeson Equity Prices," IMF Working Papers 07/204, International Monetary Fund.
  6. Stephen R Bond & Michael P Devereux & Alexander Klemm, 2007. "The Effects of Dividend Taxes on Equity Prices: A Re-examination of the 1997 UK Tax Reform," Working Papers 0701, Oxford University Centre for Business Taxation.
  7. Paul A. Samuelson, 1964. "Tax Deductibility of Economic Depreciation to Insure Invariant Valuations," Journal of Political Economy, University of Chicago Press, vol. 72, pages 604.
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Blog mentions

As found by EconAcademics.org, the blog aggregator for Economics research:
  1. Risk-free rate tax deductions
    by Economic Logician in Economic Logic on 2011-06-01 14:59:00

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  1. Economic Logic blog

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